纺织服饰行业周报：10月服装销售阶段性回暖，出口延续稳健

Industry Investment Rating - The report maintains a "Recommended" rating for the textile and apparel industry [5] Core Views - October saw a temporary recovery in clothing sales, with retail growth hitting a yearly high due to early Double 11 promotions and holiday timing [2] - Domestic clothing retail sales in October grew by 8% YoY, marking the highest growth rate in 2024 [2] - Exports remained stable, with textile and apparel export growth turning positive in October [3] - Vietnam's export growth reached a new high of 25.20% in October, indicating strong overseas demand [3] Industry Data Review Retail Performance - From January to October 2024, domestic retail sales grew by 3.5%, with October alone growing by 4.8% [2] - Clothing retail sales from January to October grew by 1.1%, with October showing an 8% YoY increase [2] Export Performance - Textile yarn and clothing exports grew by 0.14% and 0.06% respectively in October 2024 [3] - Cumulative growth for textile yarn and clothing exports from January to October was 5.80% and 0.70% respectively [3] Raw Material Prices - Cotton prices fluctuated, with the China Cotton Price Index (CCIndex:3128B) at 15,368 yuan/ton as of November 15, 2024, up 30 yuan/ton from the previous week [3] - The Cotlook A Index was 81.35 cents/pound, down 1 cent/pound from the previous week [3] Investment Recommendations - The report is optimistic about Q4 2024 consumer confidence recovery, driven by policy support [4] - Companies with deep corrections and stable dividend yields are recommended, including Hailan Home, Bosideng, and Anta Sports [4] - Export-oriented textile manufacturers like Huafang Group and Shenzhou International are also recommended due to stable overseas demand [4] Market Performance - The textile and apparel sector fell by 3.38% during the week of November 11-15, 2024, underperforming major indices [3] - Sub-sectors like textile manufacturing and home textiles also saw declines of 3.35% and 3.23% respectively [3] Recent Industry News - On Holding AG reported record-high Q3 net sales, driven by strong performance in the Americas and Asia-Pacific regions [74] - The first "Taiqian·China Down Products Creative Design Competition" concluded, aiming to boost high-quality industry development [75] - Catperson maintained its leading position in the Double 11 sales rankings, topping multiple e-commerce platforms [76]